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tv   The Willis Report  FOX Business  August 27, 2012 9:00pm-10:00pm EDT

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at the time this country needs it. the former ceo, a key romney confidant. a company that benefited early on from bain capital private capital funding. the fact that mitt romney was able to see a diamond in the rough. of course, the success is legendary since then. sir, very good to have you with us. how are you doing? >> is great to see you, neil. neil: what does mitt romney have to do to make a company like yours translatable and universal to everybody. but what he did for you, you can do it for america. a lot of folks are confused as to whether the has the ability to do that. what you say? >> .bain capital, we launched the bulls, which is the industry. the industry staple. what he has done is created jobs over time and fixed companies and problems. and i think when you look at
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politicians today, they are either ideologically left or ideologically right. and i think that some people look at mitt romney and they say, well, he's not ideological. welcome he's not because he comes from the business world. in the business world, you look practically at the issues and evaluate what the alternatives are and you implement solutions. so you come pragmatically after it, not driven by ideology. as i look at the undecided factors in the selection come in the middle of the people, 10% that are supposedly undecided at this point, they are the people who are more pragmatic and who want to thought and analysis put into these problems. and don't want the ideology. i think that the campaign starts after labor day -- it always does. and i think that that is when people will start looking and focusing and the undecideds will start saying, who who are these guys were elected in office? and i think they will see a
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different side of mitt romney at that point. neil: i remember our conversational record. even the knowledge that in the primary process, the governor had a tough time making a point. you phrased it that whenever i risk, i risk my money -- my private capital money. this president is risking billions of taxpayer money with dramatically different results. >> no, i think that's right. that's right. but i think that the definition of insanity is doing the same thing over and over and expecting different results. we have had four years of stimulus and all this stuff. either the obama administration needs to have it at this point in a second administration and do something different for america needs to have it and move to a different administration. one way or the other, the lack of a pen that it it would simply be insane. wouldn't? neil: indeed. steve, very good point. always a pleasure to see you. you probably heard that because
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of isaac, this was supposed to be a riproaring night of developments and fanfare and allowed noisemakers. i like the hats, quickly. i can't wear them because my head is so big. but a lot of people -- it's not a big issue with them. not at issue tonight. at a not so busy tampa convention site on how that all begins to change tomorrow. in the meantime, a lot of egos have been cut out is further time goes. >> they didn't cut big speakers, they cut their time. it used to be that you do have to control what went on the floor. you don't go 10 rounds anymore with warranty hurting as your nominee. that is not the primary part of the caucuses. it is what goes on up there. they have cut the time of speeches of politicians to try to fit 40s of the convention into three days.
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that is no easy task. but they have attempted to do so. giving you a preview of tomorrow, who we expect to be up there tomorrow -- john boehner, rinse the list, bob mcdonnell, ted cruz, a tea party favorite, another tea party favorite. mrs. ann romney and chris christie, who earlier today said that barack obama was acting more as a chicago war candidate and president of the united states. neil: by the way, i believe that the walking and talking thing is down. i'm letting him know in nearby lakeland just how you're are trying to steal his walking and talking under. he is far from here and can't do anything tonight. neil: >> earlier today i had a rain
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slicker on. i was trying to replicate the speakers. they made fun of me. because not only cannot pull it off, but it was like 85 degrees. >> you were doing it indoors and it was just not quite right yet. it was the wrong place. neil: into so much. we will be checking in with rich edson quite a few times over the next couple of days. and next we have a great ceo. no, not talking i'm not talking about the people up in the corner. i am talking about that room behind me that will be filled with a lot of people. >> happy to be here at. neil: the delay notwithstanding? >> everything looks very well. the campus, as we call it, here in tampa -- we are ready to go. i would have liked it to dawn on monday, but that didn't happen. but will go we'll go on tuesday and have a great show. >> in a way it could work to your advantage if it is done
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faster. you could evoke a maneuver through the nominations are in one speaker after another, you captivate people's attention. were you going to do when people feel out of sorts or they haven't gotten enough attention were issued enough attention. >> first of all, everybody was in by saturday or sunday, primarily. they were here -- a lot of events were on the schedule. you had a great event that the host an event put on. a lot of people are participating in the process and the people that i talk to are looking forward to coming into the hall tomorrow. >> i noticed that rick santorum is up there tomorrow. generally speaking well. is there a division? this was a sharply divided race. and he got very nasty. as all that behind the party now, do you think? >> i think all of that is behind the party now.
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then all we have to do is win the white house and defeat the incumbent. >> you always hear in this argument that we like mitt romney, we don't love mitt romney. in other words, he is sort of playing the role that i did as a backup date for men and women at the prom. i was like the safe choice, but i wasn't the first choice. that is not why, by the way. but you get a sense of that here that paul ryan electrified the ticket and they admire the governor, but he still isn't allowing them? >> this is a great value of this convention. to the extent that anybody thinks. and i don't think that a lot of people do. the convention gives mitt romney an opportunity to share his passion and his vision with the american people and with the republican party. and i think that's a great opportunity. i don't think they will have that opinion when they finish watching this convention.
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>> you get concerned that the democrats need only next week. presumably the nominee will get a watch after both conventions? >> i like to say that i would like everybody to watch our convention. i would like everybody to watch the democratic convention and i would be happy with anything they decided to watch both. neil: it is mitt romney's gain and the others, by comparison, to suffer. do you buy the view that it will be hard for the president to do better than he's doing? >> i think that you have a country that is obviously spent from the last election. it's a closely divided country now. i think that these conventions actually show and provide a valuable purpose in providing the american people. i think a lot of people are going to make up their minds
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during both of these conventions but they're going to vote for. neil: art laffer was telling the landslide for mitt romney. what you think? >> i would be happy with a landslide. >> we have you with any when? >> i think it's critical that we win this election. neil: william harris. the guy in charge of this. not an easy task. this comes back to the economic issue that i have been telling you so many times about. the building, the one that shows us rapidly approaching $6 trillion. in a perverse way, many welcome going over that significant milestone because it shows a much spending is getting to be a dominant issue. separately, you're going to hear talk about another issue in this room. showing how much has been added to our overall deficit at the start of this convention. you have that as well. $747 billion as we speak. as you can see, it's going to be
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a very big issue here and one that will dominate the theme of this convention. an issue that is a big one to business titans. the cofounder has been telling me and worrying aloud with me because they captivate both wall street and main street. so good to have you, mr. thurgood. >> it's great to be here at. neil: at. neil: if you had to advise mitt romney in thursday night and you are good at marketing and product and getting a product out, of course, has to be one that we go back and buy, what if you have to do? >> write on a piece of paper your promises and i will do these things in my first year. if not, impeach me like every other person that ran for president. i'm real, i'm not talking about these things, i'm going to do them. sign your name to it. that's accountability. neil: okay, let's say he doesn't do that. is there any other plan be? >> well, i think people should
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try to get to know this guy. trying to get us together. neil: you have to struggle to get a meeting with a guy? >> of telework. now, the issue for mitt romney is that he's going to be between a rock and hard place. he's going to be looking at the 16 trillion-dollar debt and $1.5 trillion deficit. he's going to be looking at a budget that offers little room. lo and behold, somatic tax hikes. is that going to sell, especially at a time when 53% of americans say a big way to close this gap is not more spending cuts, it's more taxes. >> well, what will happen in the long term, inflation will take care of it. but the answer is this, that it will take care of reducing some of the debt in the long-term. history shows that. in the long-term. not short-term, but long-term. however come the big thing is
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this. he is a businessman running as a businessman to get things under control like any major business with. the united states government is the biggest business there is. should men be able to look at the deficit, reduce -- not hurt the little guy? but at the same time, let us maintain? how we grow america together. with all due respect, paul mitchell, of all the people we have hired and share profits with -- we have given back a better place to live. we have a positive mental attitude. we work little harder, a little bit longer. i think all americans to do that. neil: you celebrate beauty products they sell some fine -- i'll leave it at that. this economy probably explains why you're doing so well. but it's tough to sell when he sells what he sells. is it? >> i don't think so. it demanded what he did at the olympics, you look at it only on a larger scale.
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i can tell the present administration to let people like me get more involved. let's reduce the deficit. not by one shilling or $2 trillion, but $5 trillion. with businesspeople help you out. we will do it for free. he should be able to pull that one off, maybe a little bit difficult, but i think he could doing it and get people off their lazy fannies. we have 3500 homeless people that help support to get a job. out of those people, 1800 have got a job at monster. they are all homeless, we give them close to where, a place to sleep, we work with them every day. sometimes they take bus tokens and go three hours to go on a job interview. 1800 -- neil: many have fought the fat cats, successful guys like you.
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>> that's not true at all. we have done more to help people take care of themselves and not just in docherty like appalachia. we help people take care of themselves. that's what it's all about. >> how would you tell mitt romney to again com in a clear sense, market data and the word out? you heard these surveys done. it is not that he is considered as likable as barack obama. i don't know how crucial that is where the psychobabble from anyone. that that is what would otherwise be very prohibited numbers. >> i think people want results, not just a likable person. you're a presidential candidate. if i don't do what i told you, impeach me. unassigned is intended to be. that is accountability. that means more people than being likable. take care of all the people. not just promises. neil: that's a very good point. they like you could doing well for them. >> that's great marketing. everyone will love him if he does. america does work.
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neil: the man behind paul mitchell hair care products. a guy's spots were given no shot at succeeding. obviously, he built that. i don't think it would be our infrastructure to build them, but he did a good job with it. when we come back, looking at new developments. including fascinating news out of general motors. they want no role in this campaign with either candidate. not with the guy who helped bail them out and not with the guy who was opposed to the bailout. if that is what they are saying in motor city, that could explain why this ticket is leaving in michigan. it is weird and real. after this, we are going to find out how real. more from tampa, florida hung up after this
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neil: welcome back from the very quiet center. this was supposed to be a gregarious opening night. in the wake of tropical storm or hurricane isaac. it has pushed everything in payback. but it has not pushed the news and the newsmakers back. we do want to update you on some developments out of motown. we are just getting word right out of general motors is going to be temporarily shelving production of the chevy volt,
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apparently demand is not keeping up, so they will be unplugging the plug-in for a little while. nothing against this fine car, but i just don't know about this thing. i'm sorry that i'm biased, but i think it's going to lead to a lot of divorces. any car that you have to plug-in, somebody's going to forget. you know, the wife is going to blame the husband and say i thought you plug it in. >> bottom line, the demand is not kept up with the hopes and promises and a lot of critical accolades for this vehicle. to add some confusing insult to injury and maybe more for the president, gm is saying that staying out of this race, it's not going to have anything to do with president obama or mitt romney. it's a major carmaker can get. maybe that says something about this environment that the president who really was behind keeping gm around as a vibrant entity is not going to be getting the support of gm company workers. needless to say, a lot of the
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union workers are behind the president. as a company policy, it apolitical as you can get if there is such a thing. jon barrasso joining me with more on that and what he makes of a lot of these companies that seem to be, even though they are benefiting, senator, distancing themselves from the president. >> the president has his position. i voted against the bailout. i have concerns when the government picks winners and losers. as opposed to one citizens, people that want to buy things, that is kind of the way that free enterprise works. the president has been awarded with the private sector. >> when the president was there shortly after the rescue -- he's in michigan right now. this was the state that she had someone like mitt romney, he was against the bailout, the giveaway to the democrats. the president could lose
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michigan the matthew good and he should because of the issues of the jobs. the economy. the debt and the amount of spending that is happening in this administration. neil: that's what's going on in the states? it doesn't take much for a run over the table from iran if it were not there yet, but that is who would've thought, right? >> when you we look at over 40 months of unemployment, 8%, we can do better. the american people expect better and they are not getting it from this.
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neil: i bemoaned this question, but it's a thing for a lot of people, the rap against the republican nominee -- very astute businessman, but the motionless and doesn't drive passion. not as likable as barack obama. a big problem for him. in this economy, he should be -- that is mitt romney leading by 10 points and that is because he is not likable. do you think that's an issue? >> well, we will see mitt romney and hear from ann romney, we will hear from paul ryan or the american people are going to look at us and say, this was the person to lead the country. barack obama has failed. we can do better and mitt romney is a person to do in. neil: that you are pretty good at the passion. until paul ryan came on that ticket, no offense to the governor, he was not winning in the past. maybe a little bit more so now. is that going to make up for the fact that lot of the diehard conservatives don't trust him?
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>> i believe that you win by building a broad coalition of people who all believe we can do better than what we have under barack obama. specifically, with jobs and economy the economy in debt and spending, and i am a doctor. whether it is the health care law, they're going to end up paying more. [talking over each other] neil: you are a doctor. you know what you speak. the likelihood of the president over turning it on its own -- >> we need to pick up for net senate seats. we've been working to try to elect republicans to the senate. we also need mitt romney in the white house. he is the one person who can make sure. >> it's a simple majority vote to dismantle key advocates one by one. that's a herculean leap within itself. >> you need mitt romney in the white house and budget reconciliation. that's how we can undo all this terrible stuff. i'm not going to stop working until we get them all. neil: senator, thank you very
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much. he is a doctor. people always forget that. when we come back, we are going to talk about what is happening with government and how in this environment they are trying to control the size of government and how many are there to represent government. the question leading the charge after this. more from tampa, florida. you are watching fox business. everyone has goals. take the steps to reach yours, with us
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aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. neil: he is among the designated speakers, rinse free bus a possible running mate for paul . chris christie will be making the opening keynote address. he, too, among the shortlist short list of potential candidates. all of these gentlemen are among the most enthusiastic backers of team romney.
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each convinced that mitt romney has what this nation needs, to cure a sick economy. it's all getting spending under control. governor, very good to have you. >> you put your money and mouth in the same direction. were you doing in idaho? why do you think it bears national lessons? >> the first thing we described it is that we are not going to balance the budget by raising taxes. see where we can cut and make more efficiencies and colocate government. that's exactly what we did in 2007. i had served in the house for six years. my first but it was $2.6 billion. so we can go down. neil: what i find fascinating is that everyone says, if we think about paul ryan, giving the heat
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he does come, just one to slow the growth in spending. you reverse that. so it is possible to go in reverse? >> it is. to be fair, i had about $400 million in savings that i also spent. the real cut was about 600 million. it was a cut. it was a tough cut. just like paul ryan. paul ryan not have the courage to say and do the right thing relative to the big items in the budget, but he also had the honesty to tell them. if you can't combine honesty and courage, and you're not going to make it happen. >> this is a guy that was trying to curtail the growth of spending and entitlement. if that is the hell that you get in this country are just trying to do that, is there the appetite publicly to get spending under control everyone says, wait a minute, it's my
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option? >> listen, the editorial vigilantes came out in full force when we started making those cuts. we just said that we still have to do the right thing. we can defend doing the right thing. we can't defend something that we probably shouldn't do because of the popular opinion. i would tell you that. i won this last election by 60%. they recognize that we want to run government the same way that they run their small business in their households. they have to balance the budget. simply can't raise the price of the product. >> how did you tell this cost of this? >> we sold the tough stuff because what is the alternative? we made our education changes. we performed education integrally seniority. we made it so they could only negotiate salaries and benefits, and they have to do that in public or they could no longer go close the door and negotiate with the union behind closed
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doors. we also added pay-for-performance. we are going to be passing at $41 million this year. 285%. because they performed. we have done the right thing. we can do that in this nation. neil: i thought you were going to say obama-biden. [laughter] governor, very good having you. it does come back to that. the governor pointed out that we are serious about getting spending under control but it's all in how you sell the spending and sell getting it under control and how much are going to control it. to be fair, not just slowing the growth. the idaho temple stands out of what is certainly thinking this
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is possible -- if you think it's impossible, we should point out that a number of economists believe that the man is there to go this economy. there is a history for this sort of thing. it was with ronald reagan in the early 1980s. an economic boom translated into better than 22 million jobs being created. that was the time when we cut regulations and taxes and a lot of democrats say that we also ordered the deficit. it was a historic boom, the likes of which we have not seen in the last century. a prominent bush promised in his own record very right. very influential in a very important test of this convention. john, turgut visio. the devil is in the details and getting economists to agree on something. no two economists agree on anything. but about 500 agree that mitt romney would be good here. the president comes back and says i have 500 with me.
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the ones you agree with -- the benefits of the romney-ryan ticket -- it will get the economy moving again. >> it is a very weak recovery comes of this program changes the economy. in the short run, to make it keep going. >> it stops the short-term stimulus packages, which cause uncertainty and confusion. because the debt under control by gradually reducing spending as a share of gdp. basically you have to get that debt from exploding and put it on the right trajectory. neil: you guys want to get to up to around 18%? >> around 20 through 24. >> that represents trillions of dollars. >> it was what we were spending in 2007. it's really just undoing the gigantic things and bringing back to work once.
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it is doable. you make a huge difference. >> use of the last time you were with me -- and i thought it was very profound -- people need a sense of assurance were paraphrasing that the rates you can expect are more than just the immediate foreseeable future. a regulatory climate that doesn't really change. there is not enough of that. sort of going from, you know, cobbled together budget, you would do what? the push would be what? >> lay out a long-term strategy to make sure taxes don't rise. neil: in other words, if you change the rates as the governor wants to do, they would be how long? >> 1986 is the big tax reform. we need another one. it's long overdue. put that in place. don't keep changing, don't keep these temporary things as far as the fiscal cliff. what are the long-term
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challenges. i think the economy will grow. >> the loss of revenues from taxes that are cut mean that deficits could get short-term worse before they get better. you believe that? were to be offsetting spending topic? >> i don't agree with that. we have spending going rapidly. take that down to more reasonable rate. it will be benefits right away in terms of the budget. >> but you need to get the spending down immediately? you can put that off. >> out and it's a good idea to put it off. that is the problem. kicking the can down the road. he gets the job done. >> are you going to be president romney's chief economist, treasury secretary? >> i am a professor of economics at stanford, university. i love teaching the students. neil: very good answer. john taylor.
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we hope to hear a lot more from that gentleman. we have a lot more to tell you on the effect of isaac. not only what's going on with this one, but what havoc it could be wreaking on energy prices. just as a common procedure, when we have a hurricane, or even the threat of one or even a tropical storm -- key personnel from all the rigs across at all. that happens all the time. oil and gas prices shoot up on the news, in fact. here is what gives it sticking power. how long it happens. in other words, they stay out, the rates were a long time and it gets to be a problem. we have a problem. more is coming up next
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neil: opening-night. it has been a great day. you might not see that from the crowds or the key players are artier. getting word that mitt romney will be here, leaving boston tomorrow morning. he will be here by late tomorrow morning at the latest. even though isaac remains a threat. one of the reasons why this convention has been sort of cut from 40s to three days -- there's a lot of good reasons for that.
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it had nothing to do with that contention. it might've had something to do with a certain financial meltdown. that was then and this is now. most of the attention seemed to be focused on perhaps a much more stubborn thing. rick, what can you tell us? >> doucette stubborn and that is right. a hard time getting all that strong, stronger, but i really do think it's going to happen from all the ingredients are still there. by tomorrow night, probably about 30 hours from now, we are looking at category one or two hurricane. right next to new orleans. it is a very slow mover. major rainfall totals and a lot of flooding from the storm. it is also so large, we are going to be talking about people who are dealing with the impacts of impact of this one. this is the latest look. you can see just how big it is. already about to see areas of louisiana in the florida panhandle, major flooding across
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order today from some of the range helps that her a few hundred miles away. hurricane warnings all the way across the southeast louisiana over towards the border between the panhandle and alabama. we will be talking about a storm surge of around six to 12 feet. this is such a long duration of that. by tomorrow morning who have tropical storm force winds in new orleans. tomorrow night at around 7:00 p.m., looking at her first hurricane force winds around new orleans. midnight around 90 miles. this is one of the areas we are looking at. we are talking about a 24 hour period of strong winds very heavy rain, major major flooding, and wind is going to cause a big problem and eventually for going on for so many people. >> thank you very much. we will be going back to him a lot this week. he has been so talented on these developments. we figured it's a good idea.
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we will be going back to read quite a bit. in the meantime, we want to let you in on some news on one's. beginning tonight, all flights going out of new orleans have stopped. if you are there and trying to get out, you can't. goodbye. no flights out of new orleans. pretty soon, that will mean no flights into new orleans. you know how that goes. usually the sequence of events. new orleans getting ready for what could be the first tests of the levees that were repaired to the chewing of $15 billion. we'll see how that goes. the impact of whale -- stephen, how do you handicap that? >> writer what we are seeing is a difficult situation. not only do we have refineries that are being shut down, but more importantly, over the weekend, the pair who know refinery in venezuela, which is the largest -- the second largest refinery complex in the world, had a fire explosion.
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another is refining capacity that is on the shelf right now. we saw today was a significant surge in gasoline prices, not only in the gulf of mexico, but also in the midwest. what is happening now is the national oil company in venezuela was seen in the market securing supplies. from u.s. refineries that are now shunning or were running at limited capacity. the fear now is for a short-term shortage in supply from these refineries, which could cause a significant rise for consumers in the weeks ahead. neil: when you say significant, what does that mean? >> well, right now we are in a situation. a very odd situation where americans are going to be paying more for their gasoline in the month of september then the fourth of july holiday. gasoline prices on the national average or $3.75 per gallon.
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below $3.40 on the fourth of july holiday. the refinery acquisition costs. in the month of august. we are looking at another 15-cent rising gasoline prices. that was before the shortages that are being created by the amway, kirk ueda refinery. the end of september, looking at $3.90 average, which of course means that a good deal of potential we will be paying more than $4 a gallon for gasoline. >> coming after an uninterrupted price of decline against gas prices. i just have a tough time knowing which israel. to move down or up? >> it's a fair question. what we have is a situation where we have the run-up to begin the fourth quarter of last
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year. the first quarter of this year. on concerns related to the embargo with the ram. prices got to such a level that we saw significant demand destruction. we are talking $130 per barrel in the global price of oil. we did have a correction. when the prices did break back to $100 and we are at a situation now where we are creating tremendous demand and the structure. i'm of the opinion that u.s. consumers in the united states -- to translate will prices today in the two main european currencies, europeans are paying record amounts for those gasoline prices. $7.50 a gallon. that is significant. the uk is in a double dip recession. it's not that far behind. these people cannot afford oil at these prices. we are now pushing the envelope.
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to answer your question, they were not real when they got $130 a barrel. they were not real when the couple a $100. that was the second quarter. now we are back above $116 per barrel for the real price of a barrel. we are probably above and beyond were demand justifies it. neil: we have a senator joining us next and we will follow the debt clock. a constant reminder. folks watching from around the world. an image of how republicans are trying to say that this is not just offer them. this will be their mantra and their convention the capital one cash rewards card
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neil: we talk about the debt to in nebulous terms but inside the convention center closing on $16 trillion since special coverage has started, we have 300 million since the convention started today, $821 million. just over the course of the day.
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i wish this could monitor my wife's spending. but roy blunt worries about this and is a class act. there are very few in washington. but he joins me right now. those figures are startling. guinness speakers hit the point* home? >> i hope so. and the decisions romney made with paul ryan shows he is a party of solutions. what we have to do to get spending under control is not complicated. it is big but everybody knows the basic links.
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neil: but they don't. but maybe tomorrow they fill in the dots. >> what has happened is $1 trillion deficits for years and wrote national debt 10 trillion of the 16 trillion less than four years. not only an epidemic but comparison to europe every day. they made the decisions but they didn't know what happened. we do it cannot let your government get bigger than your economy can support. neil: you need to come to the white house. you are senate candidates. with odd man out and your comments to assure clare
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mccaskill wins the race. >> they can decide if the national issues are bigger than what they would personally like like -- personally like. neil: it is hard to the dow now? >> it is harder a.m. last tuesday but the date you cannot leave this next month. but the national interest the impact on the country. neil: you think he still steps down? >> i hope he decides he points the country first and his personal desires behind that. neil: regardless they think they can pick up the senate
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even without that c-span might give we find out if it is one seat short but wisconsin looks better, north dakota, nebraska, montana, v irginia, and mexico, in michigan is moving. florida. a lot of opportunities for the net gain of four but president romney needs a republican senate. have a budget for the first time in four years. if not spending will never be under control. the current senate leadership will not put that on the table. neil: senator blunt thank you very much. crashing the party, a prominent candidate, but at
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the same time could be hell to barack obama. gary johnson. next.
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you certainly are. [ male announcer ] fiber one.
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neil: we're getting a early
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indications what mitt romney will speak about. to make the pitch to lead the country as a ceo with his experience. he billed not shy away from his religion or his massachusetts health care plan but will differentiated from the president at the federal level his had no medicare money compromise. the fed is convincing are risky my next guest joins us now. there is a very big distinction and difference. >> shoot straight and take up the fact
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